Globe Life (NYSE:GL) Price Target Increased to $65.00 by Analysts at Morgan Stanley

Globe Life (NYSE:GL) had its price objective lifted by Morgan Stanley from $62.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 21.29% from the company’s previous close.

Several other research firms have also commented on GL. Evercore ISI raised their price target on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Truist Financial cut their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler reduced their price objective on Globe Life from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Finally, StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.22.

Globe Life Price Performance

Shares of Globe Life stock traded up $0.67 during trading on Wednesday, reaching $82.58. The company’s stock had a trading volume of 218,180 shares, compared to its average volume of 2,035,666. The business has a 50 day moving average price of $82.69 and a 200-day moving average price of $102.20. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market capitalization of $7.44 billion, a P/E ratio of 7.88 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company earned $2.53 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Globe Life will post 11.72 EPS for the current year.

Insider Activity at Globe Life

In related news, EVP Robert Edward Hensley acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the purchase, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at $599,019.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Edward Hensley purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $82.17 per share, with a total value of $205,425.00. Following the transaction, the executive vice president now directly owns 7,290 shares in the company, valued at $599,019.30. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,500 shares of company stock worth $536,860 in the last three months. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

Large investors have recently made changes to their positions in the stock. Public Sector Pension Investment Board boosted its position in Globe Life by 4.1% during the third quarter. Public Sector Pension Investment Board now owns 20,613 shares of the company’s stock worth $2,241,000 after purchasing an additional 804 shares during the period. Deutsche Bank AG lifted its position in Globe Life by 14.5% during the 3rd quarter. Deutsche Bank AG now owns 228,634 shares of the company’s stock worth $24,859,000 after acquiring an additional 29,002 shares during the last quarter. American Century Companies Inc. grew its position in shares of Globe Life by 9.8% in the third quarter. American Century Companies Inc. now owns 46,600 shares of the company’s stock valued at $5,067,000 after purchasing an additional 4,157 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after purchasing an additional 181,824 shares during the period. Finally, Symmetry Partners LLC lifted its position in shares of Globe Life by 17.4% during the 4th quarter. Symmetry Partners LLC now owns 2,430 shares of the company’s stock worth $296,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.